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Alibaba expects $5B boon from China's "Singles Day"

  • Alibaba expects to sell 30B renminbi ($5B) worth of goods today in celebration of "Singles Day" in China, which the online giant has managed to turn into by far the world's largest e-commerce discount event, even surpassing Cyber Monday in the U.S.
  • Major foreign multinationals have also been participating in the celebration - or lamentation - of "singlehood" by offering notable online bargains, including Nike (NKE), Adidas (ADDDF), Procter & Gamble (PG), Unilever (UL) and Samsung (SSNLF, SSNGY).
  • And why is it called singles day? Because November 11, or 11/11, has four 1s, or singles.
Comments (2)
  • williy
    , contributor
    Comments (2) | Send Message
    very nice
    13 Nov 2013, 08:17 AM Reply Like
  • williy
    , contributor
    Comments (2) | Send Message
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    14 Nov 2013, 11:49 AM Reply Like
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